Why is my credit score important?

Your credit score is important for a number of reasons:

• Your credit score is often used by a credit provider (such as banks, lenders, credit card companies, utilities, and telecommunications companies) to determine the risk of lending you money or extending your credit.
• It provides you with an opportunity to take actions to improve your score, increasing the chances that your future applications will be approved.
• Having a better credit score may also give you access to better offers.